11/06/20
To remedy California's urgent budget situation due to economic conditions radically deteriorating since the 2008 Budget Act was signed, Governor Arnold Schwarzenegger today called a special session of the legislature and announced an action plan to get our budget back on track, invigorate our economy and generate jobs for the state's unemployed. The Governor called for a combination of cuts and revenue increases to solve California's budget shortfall which has now reached $11.2 billion. The actions prescribed by the Governor must be taken up as quickly as possible in order to prevent a cash crisis that will jeopardize vital state services.
. . . . .Additionally, the Governor called for additional revenue increases including broadening the sales and use tax to include certain services, imposing an oil severance tax upon any oil producer that extracts oil from the earth or water in this state and increasing the alcohol excise tax by five cents a drink.
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